TVS Motor Company shares rose 2% after it experienced a 12% increase in sales, with unit sales rising from 317,152 in March 2023 to 354,592 in March 2024. The overall two-wheeler segment also saw a 12% growth, with sales increasing from 307,559 units in March 2023 to 344,446 units in March 2024. Domestic two-wheeler sales grew by 8%, escalating from 240,780 units in March 2023 to 260,532 units in March 2024.

The motorcycle segment witnessed a notable 22% growth, with sales soaring from 141,250 units in March 2023 to 171,611 units in March 2024. Conversely, scooter sales experienced a modest 2% growth, climbing from 128,817 units in March 2023 to 131,472 units in March 2024.

In March 2024, the company achieved its highest Vahan (Vehicle) retail sales. Furthermore, the dispatch of electric vehicles was moderated to facilitate a seamless transition into the new EV incentive scheme introduced by the Government. Electric vehicle sales totalled 15,250 units in March 2024, marginally lower than the 15,364 units sold in March 2023.

The company’s total exports surged by 23%, reaching 91,972 units in March 2024, up from 75,037 units in March 2023. Two-wheeler exports also observed a substantial 26% growth, escalating from 66,779 units in March 2023 to 83,914 units in March 2024. Additionally, the three-wheeler segment registered a 6% increase in sales, rising from 9,593 units in March 2023 to 10,146 units in March 2024.

During the fourth quarter of the financial year 2023-24, two-wheeler sales surged by 23% to 10.32 lakh units from 8.40 lakh units in the corresponding quarter of the previous financial year. Three-wheeler sales also experienced a 4% increase, reaching 0.30 lakh units from 0.29 lakh units in the fourth quarter of the financial year 2022-23. Moreover, total exports witnessed a substantial 40% growth, amounting to 2.50 lakh units from 1.85 lakh units in the last quarter of FY 2022-23.

For the entire financial year 2023-24, the company achieved a 14% increase in total sales, rising from 36.82 lakh units in FY 2022-23 to 41.91 lakh units. Two-wheeler sales grew by 15%, reaching 40.45 lakh units from 35.12 lakh units in FY 2022-23. The three-wheeler segment recorded 1.46 lakh units in FY 2023-24 compared to 1.69 lakh units in FY 2022-23. Additionally, total exports amounted to 10.13 lakh units in FY 2023-24 compared to 10.68 lakh units in FY 2022-23.

TVS Motor Company, a globally recognised two and three-wheeler manufacturer, is committed to promoting sustainable mobility and operates four state-of-the-art manufacturing facilities in India and Indonesia. TVS Motor Company is dedicated to delivering a superior customer experience across the 80 countries in which it operates.

At 12:15 pm, the shares were trading 1.18% higher at Rs 2,164.40 on NSE.